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Chevron (CVX) Gains But Lags Market: What You Should Know
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In the latest trading session, Chevron (CVX - Free Report) closed at $164.37, marking a +0.09% move from the previous day. This change lagged the S&P 500's 0.81% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 0.37%.
Coming into today, shares of the oil company had gained 3.51% in the past month. In that same time, the Oils-Energy sector gained 8.66%, while the S&P 500 gained 5.64%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $3.19 per share. This would mark year-over-year growth of 254.44%. Meanwhile, our latest consensus estimate is calling for revenue of $45.5 billion, up 42.06% from the prior-year quarter.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.04 per share and revenue of $187.05 billion. These results would represent year-over-year changes of +60.39% and +15.13%, respectively.
It is also important to note the recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.6% higher within the past month. Chevron currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 12.6. This valuation marks a premium compared to its industry's average Forward P/E of 5.74.
Investors should also note that CVX has a PEG ratio of 0.96 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Chevron (CVX) Gains But Lags Market: What You Should Know
In the latest trading session, Chevron (CVX - Free Report) closed at $164.37, marking a +0.09% move from the previous day. This change lagged the S&P 500's 0.81% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 0.37%.
Coming into today, shares of the oil company had gained 3.51% in the past month. In that same time, the Oils-Energy sector gained 8.66%, while the S&P 500 gained 5.64%.
Investors will be hoping for strength from Chevron as it approaches its next earnings release. In that report, analysts expect Chevron to post earnings of $3.19 per share. This would mark year-over-year growth of 254.44%. Meanwhile, our latest consensus estimate is calling for revenue of $45.5 billion, up 42.06% from the prior-year quarter.
CVX's full-year Zacks Consensus Estimates are calling for earnings of $13.04 per share and revenue of $187.05 billion. These results would represent year-over-year changes of +60.39% and +15.13%, respectively.
It is also important to note the recent changes to analyst estimates for Chevron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.6% higher within the past month. Chevron currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Chevron is holding a Forward P/E ratio of 12.6. This valuation marks a premium compared to its industry's average Forward P/E of 5.74.
Investors should also note that CVX has a PEG ratio of 0.96 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.